Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
It is what it is ,an article trying to justify Italys defence . . to suggest that the tribunal reasons were scant and lacked any articulation is a nonsense , try reading what they said . If every country followed the Police power doctrine there would be no need for any international treaties and chaos would rein on all agreements as countries could just arbitrarily argue police power doctrine to suit themselves . . to argue that a state has the inherent power to regulate in protection of the public interest provided it does not act wrongfully when in pursuit of such power [ie acts bona fide ] leaves the door wide open for governments just to ignore international treaties when it suites them . if one follows that argument the uk could just legislate[POLICE POWER DOCTRINE to say no more boat people or illegals, problem solved . Sorry its just an article ignoring the fact that Italy signed up to this treaty along with lots of other countries . Until the treaties are withdrawn they are enforceable [and dont forget the sunset clauses that are attached ! GLA
Daily mail as usual making up stories .Argentina have neither an army, airforce or navy , they have inflation over 140 percent and 40 percent of the countries population is in poverty . Lots of other things that the president has to address to save the economy and its going to be a hard enough job doing those things[YEARS ] before even talking about the Falkland islands . Its just talk bigged up by tabloid press to make big headlines , just ignore it as has no substance at all .
GLA
Argentina economy is in a mess. Most people are on the poverty line. . inflation is currently running at. 124.40 %. pa bank interest is 118%. They. havent got any money and no one will invest with such risks . They can huff and puff but thats about it. More concerning to us should be the mess thats going on in Ukraine and the middle east , lets hope somehow that gets resolved . GLA
We have new Directors on board ,unless they are prevented from buying because they have been told about news shortly to be released or going on one would have thought that the new Directors would have at least bought some shares . We live in hope. GLA
I would have thought it was customary for new directors to actually buy some shares , we live in hope that the new executives will put their hands in their pockets and show some confidence and actually buy some shares [and I dont mean 50 or 100 ] it should be substantial l as these new board members can clearly afford to put their hands in their pockets , perhaps that will give us as share holders a little more confidence . Been here a long time and none of the current directors have even bothered to buy for years [probably couldnt be bothered as they get paid so well and have options easily granted ] . oh well we live in hope that perhaps the new executives will show their hand and invest . GLA
I see that some investors have managed to register their ICSID judgement in the High court and have obtained a charging order on a Spanish owned freehold property in London . The defence of Sovereign immunity didnt wash with the court ,the judgement debt was over 120 million for investors who lost out to the Spanish government who renaged on investment reliefs . Although the judgement was over 2 years ago it does show that ultimately the losing party will have to come up with the money or be embarrassed in not abiding with rulings . Who in their right minds would investment in a country whose government encourage foreign investment and then change the rules , foreign investment will not happen on that basis too much of a risk . Yes we may have to wait but many of of us have been waiting for over 13 years ,, I suspect that the award will be sold on once the annulment process is concluded , in the meantime we soldier on and lets hope we have more favourable news shortly . GLA
Not much RKH can do if the icsid have not handed down any decision after the 5 working days have expired , what would you like them to do demand a reply . We will be notified as and when a decision has been made , we are all impatient to see progress but alot of the current proceedings are outside Rhk control on timing and they cannot demand instant replies from the ICSID . GLA
Requiring Italy to deposit or put up security is likely to cause them to reconsider their chances of success . Not abiding by Arbitration decisions will ultimately put off overseas investors as they will see that Italy can just ignore international agreements . It could also deter companies investing in eco friendly policies as Italy will not hesitate to ignore these rules when it suits them . This whole process is tiresome but hopefully we will get there in the end , GLA
I see from the financial times that things have gone from bad to worse for Argentina . inflation is now estimated to be in the region of 145% and the country has renaged on IMF borrowings of 44 BN$ ,the money lent by the IMF was to be spent on specific items to encourage growth and the economy , instead it was nearly all spent in proping up the currency and none of the targets set upon the borrowing have been adhered to . Half of the population is below the poverty line and the countries reserves are calculated to be minus 1.5bn$ [not sure how that is calculated but is a big number ] . They are talking about possible devaluation and the economic crisis just worsens . Kircher will not run in any election as she has had big issues with the allegations of corruption made against her. All in all overseas companies will not want to invest with such a risk of economic melt down and the threat of devaluation nor with a government that can be not trusted . The Falkland islands is not something they can do much about [except shout and scream as they have done so in the past ] Not many other countries are quite frankly interested in helping out Argentina given their conduct on the international scene . Very few Latin American countries have the power nor the resources to get involved most just struggle to make way with their own economic issues .Lets just hope we dont hear any more nonsense sabre rattling [we probably will but it should just be dismissed ] as and when we get on with oil recovery . GLA
GLA
Its well known that in Italy court cases can take years to resolve , unfortunately for Italy this case isnt in the italian court system and they cannot politically intermeddle with the judges or the court as they have no influence in the Arbitration panel as such . Eventually they will have to accept they have lost and grounds for annulment will hopefully be thrown out . Its ok to say we are earning 1.2 million a month but some of us have been waiting over 12 years and more and to say its getting tiresome is an understatement , just wish this aspect of the case would conclude in our favour asap so we dont have to keep waiting for the share price to improve GLA
Gosh this is taking such a long time to resolve itself . Been here since 2010 which is a long time and I will be retiring soon so it would be nice to see a return sooner than later .There has been lots of ups and downs over the past 13 years unfortunately more downs than ups but thats life and thats the risk we all have to take if we chose to invest . GLA
Normal conversation between one professor in canada moaning about how unfair a treaty that was set up some 25 to 30 years ago is being unfair to countries who are now trying to stop oil and fossil exploration and another lawyer. pointing out that. energy charter agreements are there to be adhered to and not just ignored . If there arent any treaties to protect investors then no one would invest in a foreign country if the very next day it was confiscated by a government . If they dont like it all the signatories. [58. plus countries would have to agree to. get rid of it ]not just a choosen few . Worth a listen if you havent heard this all before[and we have heard all this a few months ago as there was another video on this by again another group of climate professors /lecturers who put out a video with lots of pictures of the horizon explosion in the background by that naughty bp company at which point I turned off . GLA
Unlikely to be any new information from Agm any important news would have been released already by RSN highly unlikely that the Agm will reveal anything new . If any one goes though it would be interesting to see how up beat or otherwise Tb is . He is getting on a bit and no doubt wants an exit for his family at some stage , hopefully sooner than later as the share price has been pretty awful over the past year . gla
Agree Argentina is bust , inflation is now 105% and the people are now very poor . There is no outside investment into the country as its government cannot be trusted so will people please stop mentioning Argentina as being a risk , they arent also please remember who Navitas are and where they come from . Navitas will not be bothered about Argentina and their rectric as they are made of stronger stuff GLA
I see from the Times newspaper that Argentina are in real financial crisis , inflation is at 104% and interest rates at 91 % , cannot see that country doing very much in the future , the country is bankrupt almost and investors will not fund any investment with such an unstable future . Cannot see them being able to do much in the future , they dont have any money to do anything , they will no doubt keep claiming the islands are theirs and hopefully every one will continue to ignore them . GLA
Not sure how Argentina can get aggressive , they dont have an army nor airforce or navy, rate of inflation annual last year was 98percent , monthly inflation increasing at 6% so where is the money going to come from to fund any aggression , the driver in the oil field is now not a uk company but an organisation Navitas who really couldnt care less what the Argentina think. As usual Argentina will stamp their feet but they cannot do anything about it . GLA